A Purchase Money Security Interest

Multiple Choice

A purchase money security interest

A) will be automatically subordinate to any general security agreement, even if registered within the specified time period.
B) will prevail over a general security agreement covering all of a merchant's assets if it registered within the specified time period.
C) is also known as a floating charge.
D) is now obsolete in light of the Personal Property Security Act.
E) is prohibited in most provinces.